Question

Yvette is a customer of Apexon Bank, which is a member of the FDIC. She currently has a checking account that has $17,371 and a savings account with $240,000 in it. How much of Yvette's money is FDIC-protected? A: $240,000 B: $257,371 C: $250,000 D: $0

Answer 1

Answer: 250,000

Step-by-step explanation:

Answer 2

Yvette has a checking account with $17,371 and a savings account with $240,000. Her combined money in Apexon Bank is $257,371.

To know how much of Yvette's money is protected you must note that:
FDIC insures: checking, savings, money market deposits and certificates of deposit. FDIC protects against $250,000 combined.

Since Yvette has $257,371 the FDIC protects against $250,000 of that amount leaving $7,371 unprotected.